You may also be having an issue with textures, a broken/misplaced file, or your computer isn't able to handle the "weight" of the new update. Have you tried installing the Light version (instead of the Full version) when downloading the game? When you are going through the download process, there will be an option for you to choose which download version you would like to install.
Also, as Moontwist mentioned above, delete the entire FH folder. If you have screenshots or presets that you would like to save, however, be sure to save those in a separate folder located outside of the FH folder so that you can put them back in after the reinstallation.